The following selected accounts appear in the ledger of Upscale Construction Inc.

The following selected accounts appear in the ledger of Upscale Construction Inc. at the beginning of the current year:

Preferred 2% Stock, $80 par (200,000 shares authorized, 65,000 shares issued) . . . . . . . .$ 5,200,000
Paid-In Capital in Excess of Par—Preferred Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 360,000
Common Stock, $12 par (3,000,000 shares authorized, 1,400,000 shares issued) . . . . . . . .16,800,000
Paid-In Capital in Excess of Par—Common Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,290,000
Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110,900,000

During the year, the corporation completed a number of transactions affecting the stockholders’ equity. They are summarized as follows:

a. Issued 220,000 shares of common stock at $15, receiving cash.

b. Issued 6,000 shares of preferred 2% stock at $94.

c. Purchased 130,000 shares of treasury common for $19 per share.

d. Sold 70,000 shares of treasury common for $23 per share.

e. Sold 40,000 shares of treasury common for $17 per share.

f. Declared cash dividends of $1.60 per share on preferred stock and $0.14 per share on common stock.

g. Paid the cash dividends.


Instructions
Journalize the entries to record the transactions. Identify each entry by letter.